Business
BOI launching ‘strategic actions’ to add to SL’s attractiveness as investment destination
The Interview:
By Lynn Ockersz
The BOI is in the process of launching ‘strategic actions’ to add to Sri Lanka’s attractiveness as a top international investment destination. In keeping with this broad aim, the BOI is taking a lead role in setting up export processing zones with all pre-clearances, so that investors experience minimum hassle, besides paving the way for increased ease of doing business, in addition to initiating paperless documentation procedures to facilitate import and export activities, among other measures, BOI Chairman Sanjaya Mohottala said.
However, while pointing out that the BOI has “not got its fair share of the FDI pie” over the years, the BOI Chairman said in an interview with The Island Financial Review that ‘It’s time for the BOI to course correct, not only where FDI is concerned, but also when it comes to quality jobs, higher value addition and inclusive growth, so that a comprehensive impact is generated. ‘
As the Head of the BOI in which main directions do you hope to develop the institution?
The BOI is the country’s apex agency for attracting FDI into Sri Lanka. It plays a primary role in providing direction for the economy of the country, under the direct purview of His Excellency the President. As the apex investment promotion agency, it must compete with over 1,000 international investment promotion agencies for a global FDI pool that has dipped by 40%. Remaining equally competitive with these other agencies therefore to global investors against this backdrop is a challenging task. We govern ourselves with the core principles of ensuring the medium to long term policy framework remains competitive and relevant and that it is infused with a strong public private partnership, as we actively canvas and convince investors to lay their stake in Sri Lanka. We have seen how compelling examples of transformations such as Investindia have experienced over the recent past and are encouraged by the results these campaigns have yielded. Using these examples, we have also launched some strategic actions recently. The recently concluded Sri Lanka investment forum (SLIF 2021), which was facilitated to optimise opportunity for the country by providing first-hand experience to international investors on what Sri Lanka has to offer, taking a lead role in setting up export processing zones with all pre-clearances, so that investors experience minimal hassle and increased ease of doing business, and launching paperless documentation procedures to facilitate our import and export activities have all been activated in line with that direction.
Are BOI companies facing any special issues currently? If so, what are they?
Companies that fall under the purview of the BOI contribute to 85% of Sri Lanka’s industrial exports and a significant portion of Services exports. It is a challenging time for all of us given that tourism receipts have not brought in revenue to the country in the past 2 ½ years. The pandemic has also challenged the realisation of FDI as investor nations also deal with the situation in their home front. Exports therefore are critical for Sri Lanka, and the BOI is supporting these companies not only because it is our duty to do so, but also, because we consider it a national task that everyone must work together on. In this regard, we have worked with the Occupational Health Directorate at MOH, along with industries, to develop guidelines for companies to operate safely and have also administered vaccines to almost all the entities who are supporting this national cause to keep everyone safe and healthy. In addition, close to 5,000 ICC beds are currently being maintained by JAAF and BOI, in collaboration with FTZMA, to ensure that employees are well looked after. All of this has aided the current attendance turnout to hover around 80%.
What are your main suggestions on reviving the local economy amid the current constraints posed by the pandemic?
Our main task is to support both propping up the economy and economic activity to stay afloat. Our priority of course is the safety of the people, which is why we doubled down earlier this year to vaccinate all zonal and non-zonal based employees. Even though we have to deal with the pandemic currently, we must also use this time to lay the foundation for a post covid Sri Lanka. Which is why we have established two zones in the recent past – one in Hambantota for Pharmaceuticals, and the other in Eravur for Textiles and Apparel. We have also been able to secure and invite strategic investments like HCL to the country. These and several other initiatives have enabled us to secure USD 2.3bn worth of investment approvals and USD 1.4bn capital formation, half of which was FDI – all in 2020. We need to now accelerate this pace and introduce investments into the funnel faster.
How effective has the BOI been over the years in bringing in FDI?
The BOI was one of the first organisations of its kind that was set up 40 years ago to capitalise on the benefits of an open economy. And while the ambition was directed correctly, over the years, other BOI equivalent agencies have overtaken Sri Lanka, and we have not got our fair share of the FDI pie. It’s time to course correct, not only where FDI is concerned, but also, when it comes to quality jobs, higher value additions and inclusive growth, so that a comprehensive positive impact is generated.
Business
UN Global Compact Network Sri Lanka mobilizes business to lead with purpose
As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.
It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.
More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.
Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.
UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.
Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:
“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”
The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.
Business
A regional conversation on the future of English language teaching
Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world
The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?
Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.
Business
The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition
The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.
Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.
The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.
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